Competition forces firms to produce and sell products as long as the ________ to consumers exceeds the ________ of production
A) marginal benefit; marginal cost B) marginal cost; marginal benefit
C) marginal benefit; marginal benefit D) marginal cost; marginal cost
A
Economics
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A demand curve that has constant price elasticity of demand coefficient equal to one at all points is a (an):
a. None of the answers are correct. b. upward-sloping straight line. c. rectangular hyperbola. d. downward-sloping straight line.
Economics
If total utility is increasing, marginal utility:
A. is positive but may be either increasing or decreasing.
B. must also be increasing.
C. may be either positive or negative.
D. will be increasing at an increasing rate.
Economics